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Alasdair Macleod: The ugly side of Triffin
By Alasdair Macleod
GoldMoney, Toronto
Friday, December 31, 2021
Following the Lehman crisis, it became fashionable to cite the Triffin dilemma as justification for inflationary U.S. policies and why they would not undermine the U.S. dollar in the foreign exchanges.
But far from being simply a justification for continual dollar trade deficits, Triffin correctly described a situation that was bound to lead to problems for a reserve currency.
... Dispatch continues below ...
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This article describes how his analysis was borne out by events during the Bretton Woods Agreement, and the lessons that can be learned from it with respect to the current situation facing the dollar. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/goldmoney-insights/the-ugly-side-of-triffin?gmrefcode=gata
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